Question

______ is a popular form of business organisation and is the most suitable form for small businesses.

• A. Partnership
• B. Sole proprietorship
• C. Joint stock Company
• D. Statutory Corporation

Answer 1

The correct option is B Sole proprietorship

Sole proprietorship is a popular form of business organization and is suitable form of small business. In sole proprietorship type of business the single individual takes all initiatives and run the business. 'Sole' means singe and 'proprietorship' means ownership. The business organization in which the single owner owns, manages and controls all the activities of the business is known as sole proprietorship form of business organization.